The Premier League is an English professional league as well as commercial contest for football clubs. At the peak of the English football league system, it is the country's primary football contest. It is contested by 20 clubs, driving by a system of promotion and downgrading with The Football League. The Premier League is a corporation in which the 20 member clubs act as shareholders. Seasons run from August to May, with teams playing 38 games each. It is sponsored by Barclays Bank, and is therefore officially known as the Barclays Premier League.
The competition formed as the FA Premier League on 20 February 1992 following the decision of clubs in the Football League First Division to break away from The Football League, which was originally founded in 1888, and take advantage of a lucrative television rights deal. The Premier League has since become the world's most watched sporting league. It is the world's most lucrative football league, with combined club revenues of around £1.4 billion in 2005–06, which are expected to rise to around £1.8 billion for 2007–08 due to media revenues. It is also ranked first in the UEFA rankings of leagues based on performances in European competitions over the last five-years, ahead of Spain's La Liga and Italy's Serie A.
A total of 42 clubs have competed in the Premier League, but only four have won the title: Manchester United, Blackburn Rovers, Arsenal, and Chelsea.
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